Law 3220 toussaint - Study guides, Class notes & Summaries

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LAW 3220 Exam 4 Toussaint Questions and Answers(A+ Solution guide)

LAW 3220 Exam 4 Toussaint Questions and Answers(A+ Solution guide)
Exam (elaborations) • 11 pages • 2023
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Agency relationship - When a person or company (agent) agrees to act for or in place of another person or company (principal) What are three qualities in an agency relationship? - 1. The principal creates authority in an agent 2. The agent receives authority and carries out the principal's instructions 3. Third parties make a contract or are involved in a tort with the agent What is the result of an agency relationship? - The principal is bound by the agents acts with a third party Unive...